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Principal Reduction Program Offered by Bank of America

Principal Reduction Program Offered by Bank of America
This is the first time a major bank has come out in favor of reducing principal and not just adjusting interest rates.  The program aims to offer relief to Americans upside down by more than 20%.  In many states where sub-prime mortgages were rife, Arizona, California, Florida, homes [...]

Upside Down Homeowners-Should You Stay or Should You Go?

Upside Down Homeowners-Should You Stay or Should You Go?
The debate is raging for homeowners who are upside down in their mortgages.  With 30% of the population owing more than their houses are worth, many homeowners are weighing the pros and cons of walking away from their homes.  Understanding all your options is one of the [...]

Are Loan Mods Just Another Exotic Mortgage?

Are Loan Mods Just Another Exotic Mortgage?

This is a great question and I’m not the only one asking it.  The following article challenges the view of loan mods as a long term solution.  It is said that when the “step up” interest rate settles after 5 years in its permanent place, there will be hell [...]

FED Finds Principal Reduction Programs Actually Work

FED Finds Principal Reduction Programs Actually Work
Well it certainly seems more logical that a principal reduction program would work better than a loan modification which is just a temporary fix.  The FEDs findings support this.  A loan modification is merely a reduction of the current interest rate and does not address the value of the [...]

Principal Reduction vs Loan Modification: Which do you choose to save your home?

Principal Reduction vs Loan Modification: Which do you choose to save your home?
I explore the difference between these two types of actions in this video….
Peace, Megan

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Firm Offers Christmas Discount on Principal Reduction Program for Real Mortgage Relief

Firm Offers Christmas Discount on Principal Reduction Program for Real Mortgage Relief

You must submit your complete file not just the EZ App by 24th of December.  Peace, Megan

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1099 Forms Issued on Principal Reduction Programs?

1099 Forms Issued on Principal Reduction Programs?
I explore this frequently asked question….
Thanks for stopping in and please add your comments.  Peace, Megan

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Principal Reduction Program No Joke

Principal Reduction Program No Joke

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Principal Reduction Programs Gain Momentum

Principal Reduction Programs Gain Momentum

Principal reduction programs are gaining momentum in the market place because loan modifications are failing, seemingly a band-aid on a gaping wound.  Here is a brief run down of the difference between principal reductions and short pay refinances.  Principal reductions vary from short pay refinances, for those of you unfamiliar, by [...]

Where to Turn for a Principal Reduction these Days? Not a Loan Modification!

Where to Turn for a Principal Reduction these Days? Not a Loan Modification!

Where does one go for a principal reduction these days?  Loan modification?  No.  Banks aren’t negotiating principal reductions with loan modifications, just interest rates.  They might reduce your monthly payment or maybe not.  For example, if you were making payments based on an [...]